What is FirstEnergy's OHIO — approved ROE?

FirstEnergy (FE) reported OHIO — approved ROE of 9.6% in Q4 2025.

What does OHIO — approved ROE mean?

The profit percentage on equity that regulators allow the utility to earn.

How do you interpret OHIO — approved ROE?

A higher approved ROE is favorable as it allows for higher potential earnings on invested capital.

How does OHIO — approved ROE compare across companies?

Comparable to authorized ROEs for regulated utility subsidiaries in other states and peer companies.

FirstEnergy FE OHIO — Approved ROE

Discontinued — last reported Q4 '25

Similar metrics at other companies

AEEElectric — Revenue reduction due to lower FERC-allowed base ROE

$10M—

ETRElectricity — Earned return on common equity

7.3%—

PCGElectric — Requested return on equity rate

9.3%—

PCGElectric — Actual return on equity rate

9.8%—

ETRNatural Gas, US Regulated — Earned return on common equity

3.5%—

FLRReturn on equity

10.8%-55.8pp

Other financials

Income statement

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Revenue$4.2B+11.6%

Operating income$828.0M+9.8%

Net income$405.0M+12.5%

EPS (diluted)$0.70+12.9%

Balance sheet

See full

Cash & equivalents$52.0M-60.6%

Total debt$27.6B+20.9%

Total equity$12.7B+0.7%

Total assets$56.9B+7.9%

Cash flow

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Operating cash flow$148.0M-76.8%

CapEx$1.3B+24.9%

Free cash flow-$1.1B-201%

Valuation

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Market cap$26.87B+25.6%

Enterprise value$54.45B+23.5%

P/E24.1×+4.4×

P/S1.7×+0.2×

Profitability

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Operating margin14.8%-3.2pp

Net margin7.2%-0.6pp

FCF margin-11.2%—

Returns & leverage

See full

Return on equity8.8%+0.1pp

Debt / equity2.2×+0.4×

Current ratio0.5×+0.1×

Where this comes from

Reported directly by FirstEnergy in its filing.

Tagged under the XBRL concept us-gaap:PublicUtilitiesApprovedReturnOnEquityPercentage.

The official record: FirstEnergy’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is FirstEnergy's OHIO — approved ROE?: FirstEnergy (FE) reported OHIO — approved ROE of 9.6% in Q4 2025.
What does OHIO — approved ROE mean?: The profit percentage on equity that regulators allow the utility to earn.
How do you interpret OHIO — approved ROE?: A higher approved ROE is favorable as it allows for higher potential earnings on invested capital.
How does OHIO — approved ROE compare across companies?: Comparable to authorized ROEs for regulated utility subsidiaries in other states and peer companies.